Business Services Industry
Lawson Software Lowers Fourth-Quarter Sales, Earnings Forecast.
Knight Ridder/Tribune Business News, May, 2002
By Leslie Brooks Suzukamo, Saint Paul Pioneer Press, Minn. Knight Ridder/Tribune Business News
May 7--Lawson Software, blaming a slow economy, sharply reduced its sales and earnings guidance for its fiscal fourth quarter, which ends this month.
The maker of business planning software said it expects quarterly revenue of $100 million to $103 million, down from its projections of $116 million to $118 million issued less than two months ago. The company said it now expects operating earnings per share to be between 1 cent to 3 cents when the quarter ends on May 31, instead of the 10 cents to 11 cents predicted earlier.
Lawson released its warning after market close. Its stock, in retreat from a high of $18.30 shortly after its initial public...
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